Fischer Sworn In as Fed Governor

Stanley Fischer was sworn in on May 28 as a member of the Board of Governors of the Federal Reserve System. The oath was administered by Fed Chair Janet L. Yellen.

President Obama nominated Fischer on Jan. 13, and he was confirmed as a board member by the U.S. Senate on May 21. He is filling an unexpired term that ends January 31, 2020. Dr. Fischer was simultaneously nominated as vice chair of the board, and his confirmation for that position is pending before the Senate.

Before his appointment to the Board, Dr. Fischer was governor of the Bank of Israel from 2005 through 2013. From February 2002 to April 2005, he was vice chairman of Citigroup. Dr. Fischer served as the first deputy managing director of the International Monetary Fund from September 1994 through August 2001. From January 1988 to August 1990, he was the chief economist of the World Bank.

From 1977 to 1999, Dr. Fischer was a professor of economics at the Massachusetts Institute of Technology (MIT).

Dr. Fischer was born in Lusaka, Zambia, in October 1943. He received his bachelors and masters degrees in economics from the London School of Economics. He received his doctorate in economics from MIT in 1969.